The war for talent: what is it?

Everyone is impacted in one way or another. A departure here. A new employee there. The situation is extremely difficult for managers, but also very demanding for workers. They are asked to do more to compensate for the lack of manpower. Contracts are being refused due to a lack of employees. Great companies are being closed due to a lack of time and... people. We are competing fiercely to become more interesting for employees in order to attract and retain them. There is an increasingly marked imbalance between the positions to be filled and the number of workers who can fill them.

It must be admitted. The situation is serious for companies that do not take concrete and appropriate measures. Nowadays, the life cycle of an employee within the same organization is increasingly short.

The war for talent is raging more than ever! How can you stand out as an employer in this difficult context?

Why do employees see the grass as greener on the other side?

Josée and Daniel made a good gesture by being competitive in terms of salary; but it was not enough. Moreover, several studies show that overall compensation remains an important factor in employees' choice to leave their job. But there are others, Gallup revealed in a study that the relationship with one's immediate superior was the main reason for wanting to leave one's job. Forbes identified the culture of an organization, bad leadership, growth potential, meaning at work, the impact of decisions and work-life balance. Plenty of good reasons to want to see if the grass is greener on the other side.

An important aspect - often too neglected - is linked to these factors: happiness at work.

What if happiness was a solution?

The notion of happiness is closely linked to the fact that human beings spend most of their time at work and that work is no longer considered a necessary step but rather a place where it is good to flourish, grow and live. Changing their mentality in this sense led Josée and Daniel to rethink their management model and, above all, their organizational culture. Studies demonstrate the benefits for both individuals and organizations of having a happy workforce.

In the workplace, a happy person is more likely to be:

healthy and less stressed;

more creative and more effective in problem solving;

more productive, engaged and results-oriented;

able to find new ideas, ways of doing things and innovations;

in a better position in terms of their career and professional development;

effective in the face of adversity, pressure and change;

more likeable and trustworthy;

a leader more appreciated by his colleagues.

But that's not all. Happier workplaces record:

lower staff turnover;

lower health care costs;

fewer errors and accidents at work;

greater value for shareholders and owners;

faster rebounds from adverse events or failures;

greater customer loyalty and engagement;

greater business development through word of mouth.

Where to start?

A revealing study by the ADP research institute, with more than 50,000 respondents, brings us a very interesting lead. It reveals that increasing salaries allows us to obtain a short-term effect that is necessary in the inflationary context in which we find ourselves. Josée and Daniel quickly understood this aspect. What remained for them to do was to integrate the other factors into their equation.

To do this, they asked their employees the following three questions:

• Are you enthusiastic about your work?

• Do you have the opportunity to use your strengths on a daily basis?

• At work, do you have the chance to do what you are good at and what you love to do?

Result: Josée and Daniel are still at the heart of the war for talent, but by changing their management practices, they are gaining ground. Employees felt listened to, respected, and at the heart of their company's transformation. Their turnover rate has decreased, engagement rate has increased, and their employees are happier!

Make peace with talent, not war!

*Fictitious names have been used for the benefit of the article but the content represents their real situation.